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Champagne and shoes: Luxury stores adapt to changing shopper

In this Tuesday, Nov. 26, 2019, photo shows customers shopping in the shoe department at the Nordstrom NYC Flagship in New York. "Clearly, shopping is much more about an experience," said Jamie Nordstrom, president of Nordstrom stores and the great-grandson of the company's founder. “It's not just about getting through their lists. They want to bump into something new, something they didn't come into find. I think great stores do that well." (AP Photo/Mary Altaffer)
In this Tuesday, Nov. 26, 2019, photo shows customers shopping in the shoe department at the Nordstrom NYC Flagship in New York. "Clearly, shopping is much more about an experience," said Jamie Nordstrom, president of Nordstrom stores and the great-grandson of the company's founder. “It's not just about getting through their lists. They want to bump into something new, something they didn't come into find. I think great stores do that well." (AP Photo/Mary Altaffer)

By ANNE D'INNOCENZIO / The The Associated Press 5 min read

photo In this Tuesday, Nov. 26, 2019, photo shows a beautician shaping a customer’s eyebrow at the Nordstrom NYC Flagship in New York. (AP Photo/Mary Altaffer)

NEW YORK – To get that monogram tote bag by Louis Vuitton or leather Flashtrek sneakers by Gucci, the go-to place had been luxury department stores.

Not anymore.

Now, there are far more options to access exclusive labels. You can buy them at online sites like Netaporter. Or get them barely used through sites like Fashionphile and The RealReal. You can even rent an entire rotating wardrobe through companies like Rent the Runway.

“The consumer is king. And they can buy luxury brands in different places,” says Steve Sadove, former CEO and chairman of Saks Fifth Avenue and now senior adviser a MasterCard.

The new entrants have disrupted the luxury sector by creating different channels to attain the seemingly unattainable. For luxury department stores that once had a lock on where the well-heeled could shop, that has forced them to reimagine their approach. They now offer new services as well as food and alcohol to lure back customers who were once exclusively theirs.